"When you get the light in a comedy club, you know your time is up. Life doesn't always give you a signal," Carrey told ET. "Garry Shandling performed at the highest level on and offstage. He was an excellent man and he was more than ready for the Big Show."
"Bravo, Garry!" the 54-year-old actor added. "Yours was a life well lived."
The Dumb and Dumber To star was one of the last guests on Shandling's HBO series, The Larry Sanders Show, where he both roasted and serenaded the host.
"I can't do comedy right now," Carrey jokingly said during his segment. "You're leaving, Larry! Just when I thought everything was solid in my life."
Once again, Carrey had the perfect words to say for his longtime pal.
Shandling died on Thursday at age 66. His publicist, Alan Neirob, confirmed to ET that the cause of death was an apparent heart attack.
Conan O'Brien also paid tribute to Shandling. During Thursday's episode of CONAN, the host took a moment to open up about how his friend helped him through a difficult time. See more in the video below.